aiche regional process technology conference - don't forget the product
TRANSCRIPT
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DON’T FORGET ABOUT THE PRODUCT!
T.A. JURGENS-KOWAL5 OCT 2012SE TEXAS RPTCSOUTH SHORE HARBOR
Global NP Solutions, LLC www.globalnpsolutions.com 281-280-8717
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Goals for Today’s Talk
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Why should chemical engineers care about product development?
New Product Innovation delivers profits
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Why Should ChEs Care?
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How many products?
<1,000 1,000 to 5,000 5,000 to 10,000 10,000 to 25,000 25,000 to 50,000 >50,000
100,000
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Commercializing a New Product
50% of New
Products Fail
Why?
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Reasons why new products fail
Lack of up-front homework and customer understanding
Failed marketing
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Who is Your Customer?
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Commodity - Polyethylene
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Best Practices for Innovation
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1. Link new product development to Strategy Top 20% use Strategy to
make project decisions
2. Improved Time to Market 181 weeks to 104 weeks
3. Average market share of ~50%
4. Early selection of best ideas
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Best Practices for Innovation
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Portfolio Mgmt
NewProductsProcess
LifecycleManagement
Innovation Strategy
Tools and Metrics
Market Research
Teams
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Thanks for Participating !
Goal #1 Not too many zzzz’s!
Goal #2 Chemical processes are interwoven with
the products we sell to customers We have to know who our customer is
Goal #3 Applying a best practices framework
delivers 7-10X revenue compared to no process
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For More Information
Lots of Books and Linked In Groups The Innovator’s Book Club (Linked In)
New Product Development & Project Management Training Facilitated on-line or face-to-face Self-study….Coming Soon
Blogs and Websites Harvard Business Review Idea Incubator blog
Twitter @globalnpd #NPDP© Global NP Solutions, LLC